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EGP 6.9bn, total investments in 6th of October development projects in FY 2017-2018

The Prime Minister, Mostafa Madbouly and acting minister of housing announced in a press statement on Wednesday, that the 6th Of October City Authority invested EGP 6.9 bn to implement the development project plan in the fiscal year (FY) 2017/2018, which represents 120% of the approved scheme for the city for the FY 2017/2018, amounting …

The Prime Minister, Mostafa Madbouly and acting minister of housing announced in a press statement on Wednesday, that the 6th Of October City Authority invested EGP 6.9 bn to implement the development project plan in the fiscal year (FY) 2017/2018, which represents 120% of the approved scheme for the city for the FY 2017/2018, amounting to EGP 5.7bn in the same period.

The minister explained that the investments are distributed as follows, in which around EGP 2.41bn in piped water, sewage, roads, electricity, and telecommunication projects.

In addition to about EGP 2.223 bn were invested in social housing projects in 6th of October city.

Moreover, there are EGP 2.164 invested in Dar Misr, and Sakan Misr housing projects that are established for the middle and low-income citizens.

He added further that there are EGP 104m invested in public service buildings in the city.

On a separate note, previously in May, Egypt’s New Urban Communities Authority (NUCA) has invested EGP 2.5bn, hence the total investments in the first 11 months of the previous FY reached EGP 33.5bn.